Pilbara Minerals Limited Stock Forecast
Pilbara Minerals Limited stock price up 0.92% on Monday
(Updated on May 20, 2024)
The Pilbara Minerals Limited stock price gained 0.92% on the last trading day (Monday, 20th May 2024), rising from $2.72 to $2.74. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.26% from a day low at $2.66 to a day high of $2.80. The price has risen in 6 of the last 10 days but is still down by -1.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 46 thousand shares were bought and sold for approximately $125.44 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Pilbara Minerals Limited stock with a 90% probability to be traded between $2.44 and $2.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PILBF Signals & Forecast
The Pilbara Minerals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.68 and $2.59. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Pilbara Minerals Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -2.14%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Pilbara Minerals Limited stock
Pilbara Minerals Limited finds support from accumulated volume at $2.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.140 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 7.05%.
Our recommended stop-loss: $2.63 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (PILBF) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Pilbara Minerals Limited to open at $2.73, and during the day (based on 14 day Average True Range), to move between $2.58 and $2.90, which gives a possible trading interval of +/-$0.159 (+/-5.79%) up or down from last closing price. If Pilbara Minerals Limited takes out the full calculated possible swing range there will be an estimated 11.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.75 (0.36%) than the support at $2.65 (3.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Pilbara Minerals Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Pilbara Minerals Limited stock to perform well in the short-term period.
Current score: 3.160 Buy Candidate Unchanged
Predicted Opening Price for Pilbara Minerals Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $2.73 ( 0.243%) | $2.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PILBF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.87 | 4.87 % | |
| R2 | 2.82 | 2.91 % | ||
| R1 | 2.79 | 1.71 % | ||
| Current price: | 2.74 | |||
| Support | S1 | 2.68 | -2.20 % | |
| S2 | 2.65 | -3.40 % | ||
| S3 | 2.59 | -5.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.80 | 2.19 % | |
| R2 | 2.78 | 1.46 % | ||
| R1 | 2.75 | 0.365 % | ||
| Current price | 2.74 | |||
| Support | S1 | 2.65 | -3.21% | |
| S2 | 2.64 | -3.65% | ||
| S3 | 2.55 | -6.93% |
PILBF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 05, 2023 | Sep 05, 2023 | Sep 05, 2023 | $0.129 | 4.28% |
| 2 | Mar 02, 2023 | Mar 02, 2023 | Mar 02, 2023 | $0.106 | 3.85% |
FAQ
Click here for our free guide on how to buy Pilbara Minerals Limited Stock.
